Disease and that this task force will be working with state and local officials to allow for schools and businesses to reopen so this is a clear agenda promise that was made on the campaign trail by joe biden and Camila Harris that they would make this a top priority but make no mistake about it there will be other Top Priorities for this Transition Team as well including how to hit the ground running following inauguration to do a number of the trumpet ministrations policies including rejoining the Paris Climate Accord rejoining the World Health Organization and even on doing parts of the travel ban for a handful of muslim majority countries so its very clear in the statement being made by this team is that they want to have drastically different policies beginning on day one. 0 meanwhile donald trump is still refusing to concede defeat his team is preparing legal challenges to some of the counts in battleground states that favored biden that are republican and former president george
Ten states are beginning to work on plans to open parts of their economy. Maybe in may, the fed launches a commercial paper funding fa s t facili facility there is an argument that calls for stocks to retest are fading. I thought yesterday was an important day with the dave kostin change. I did a lot of work, help with larry williams, about how many times when you have a 50 retracement or more, we have a retest the answer is almost never i think theres a lot of people coming on someone came on the air this morning and said in every single case you have to have a retest. Thats completely untrue if you bounced up 50 beginning last friday thats what we did. A lot of people say this thing is based on large cap companies. Thats what we do. Were not trading luncheonettes here thats not to the detriment of luncheonettes. Were not trading hair salons. Thats not the way it works. We trade Large Capitalization Companies that do better than smaller ones in this environment. Thats life. Is it fair
Losses early in the session after the ceo of russias Sovereign Wealth Fund told cnbc and moscow and saudi arabia are very close to an oil deal. Wti and brent are both coming off their best week on record. Not recent records on records ever all the way back to 1983 when they started tracking wti last week wti was up by 31. 7 . Up by 12 on friday alone. A meeting of Major Oil Producing Countries was delayed but still expected later this week that news just being told to cnbc that it looks like they are close to a deal. Andrew, ill send it over to you. Meantime, the latest on the pandemic the number of confirmed cases worldwide now totaling more than 1. 2 million. More than 330,000 of those are right here in the United States and more than a third of the u. S. Cases are in new york state. The death toll in america standing at more than 9600 overseas, british Prime Minister Boris Johnson was admitted to a hospital for tests a spokesman called it a precautionary test the Prime Minister test
Wide, but the main event is fixed income. Treasury yields at new highs. Lisa the highest levels going back to 2009. Around the globe you are seeing this push upward in yields. Is it because of inflation, because there are not going to be as many buyers for this debt . For is this the wholesale figure out as people capture this yield for a longerterm . Jonathan what a pain. The fx market right now, this might hurt. Lets have a look at the offshore human, taking a move lower. China told state banks to escalate human intervention this week. What is that about . Lisa beside father the lowest level in 15 years. That is as you look at Economic Data coming out that was weaker than expected. The intervention has been settled or growing has been subtle but growing. We heard that the peg was unusually below where it was supposed to be trading in the free market. At what point can china control the narrative through market manipulation . Jonathan lets see if that exit difference. We have been rep
This is bloomberg technology. Coming up, the doj is hitting at t hard. Details on the lawsuit that could block at ts 85 billion takeover of time warner. Er speeds up its driverless push, striking a deal with volvo. Details ahead. Plus, more dealmaking in the chip industry. What the 6 billion acquisition means in its continuing consolidation. Lets start with the lead. The u. S. Justice department is suing to block at ts 85. 4 billion takeover of time warner. This is a major blow to the carrier to create a media and telecommunications empire. At ts chief counsel said he is confident the court will reject the claims and the company is withng a press conference the ceo is expected to speak. We will bring you the headlines, but first ed hammond just listened in on the doj call and joins with the ceo is expected to speak. Also with us is cory johnson and bob odonnell with technalysis research. Us. Ed, you have been listening in on the call. What is the Justice Departments rationale . Ed they